Welcome to our dedicated page for Farmers & Merchants Bk Md news (Ticker: FMFG), a resource for investors and traders seeking the latest updates and insights on Farmers & Merchants Bk Md stock.
Farmers & Mer Bancshares (FMFG) delivers banking solutions while prioritizing community impact and financial stability. This news hub provides investors and stakeholders with timely updates on operational developments and strategic initiatives.
Access official press releases covering quarterly earnings, leadership appointments, and regulatory filings. Track announcements about loan portfolio management, interest rate strategies, and community reinvestment programs aligned with the company's sustainability focus.
All content is sourced from verified corporate communications, ensuring reliability for research and decision-making. Bookmark this page to monitor FMFG's financial health indicators and industry positioning through primary-source updates.
Farmers and Merchants Bancshares reported a net income of $1,900,851 for Q1 2023, a decline from $2,050,802 in Q1 2022. This translates to earnings per share of $0.62, down from $0.68 last year. The return on average equity improved to 15.49% from 14.55%, while return on average assets dropped to 1.05% from 1.15%. Net interest income fell by $307,021 as the taxable equivalent net yield decreased to 3.24%. Total assets slightly increased to $723 million, and deposits rose to $637 million. The book value per share improved to $16.53. CEO Gary A. Harris emphasized strong liquidity and low uninsured deposits at around 20%, positioning the bank favorably amidst recent industry challenges.
Farmers and Merchants Bancshares, Inc. (FMFG) reported a net income of $8,090,127 for the year ending December 31, 2022, equating to $2.66 per share, a slight decrease from $8,149,606 or $2.70 per share in 2021. The company achieved a return on average equity of 16.03%, up from 14.85% the previous year, while return on average assets declined to 1.13%. Total assets stood at $718 million, with loans increasing by 7.2% to $517 million. However, the book value per share dropped to $15.56 from $18.64, impacted by unrealized losses in the investment portfolio due to rising interest rates. The CEO noted challenges ahead due to higher deposit rates affecting net interest margin.
The Board of Directors of Farmers and Merchants Bancshares has declared a cash dividend of $.32 per share, payable on December 16, 2022, to shareholders of record by December 2, 2022. This marks a 10.5% increase over the $.57 dividend from 2021, reflecting a 3.0% yield based on the market price of $.20.75 per share. The annual dividend has now increased for 12 consecutive years, showcasing the company’s commitment to returning value to its shareholders.
FAQ
What is the current stock price of Farmers & Merchants Bk Md (FMFG)?
What is the market cap of Farmers & Merchants Bk Md (FMFG)?
